Middle aged policeman monitoring speed through radar while sitting on bike
There are lots of factors that insurance companies use to determine how much you will have to pay for car insurance. These include where you live, your age, sex, and marital status, as well as the make and model of your car.
By far the most crucial factor is your driving record. If your record is littered with accidents, incidents, and tickets, you can bet you will be seeing some pretty high car insurance rates. But what if you have a fairly clean driving record – no recent accidents that were your fault and no recent traffic violations – and you find yourself with a brand new speeding ticket? Can you expect a steep rise in your rates?
Many factors determine if your rates will rise
Insurance companies vary on how they react to a driver who receives a speeding ticket. Some are more lenient than others, especially if your record is clean. Generally, you won’t see a significant rise in your rates until you’ve had three speeding tickets in three years.
Of course, there are many other factors that go into this determination. For instance, if you received a speeding ticket for going 30 miles per hour over the posted limit, you could see a ten to twenty percent rise in your rates when your insurance company factors in your previous record. For going just a little over the limit, one to ten miles over, they may give you a pass.
Some ways to balance out a rate increase after a speeding ticket
If your monthly premium goes up after a speeding ticket, you can try to counteract the rise with some other strategies. Try raising your deductible, if you are comfortable with having to pay more out-of-pocket should you have an accident. Or, you could adjust your coverage limits a little lower. Just make sure you are meeting any state minimum car insurance coverage requirements. If you are willing to take on a little more risk, you could make up for the increase.
The bottom line is that your rates are not guaranteed to go up after you get a speeding ticket if your record is otherwise good, but it depends on your insurance company.
If you’ve had a speeding ticket and your rates have now gone up, you may want to shop around for a company that’s willing to give you a better rate. You can use the InsuranceWins form to compare quotes from many carriers and find the one that is most forgiving!